Aquino et al. v. First Choice Capital Fund Ltd. et al., (1999) 181 Sask.R. 73 (QB)

• Judge: Baynton, J.
• Court: Court of Queen's Bench of Saskatchewan (Canada)
• Case Date: May 03, 1999
• Jurisdiction: Saskatchewan
• Citations: (1999), 181 Sask.R. 73 (QB)

Aquino v. First Choice Capital Fund (1999), 181 Sask.R. 73 (QB)

MLB headnote and full text

Temp. Cite: [1999] Sask.R. TBEd. JN.008

First Choice Capital Fund Ltd. et al. (plaintiffs) v. First Canadian Capital Corporation et al. (defendants)

(1996 Q.B. No. 1757)

Indexed As: Aquino et al. v. First Choice Capital Fund Ltd. et al.

Saskatchewan Court of Queen's Bench

Judicial Centre of Saskatoon

Baynton, J.

May 3, 1999.

Summary:

Six corporate plaintiffs and 152 individual plaintiffs conducted a consolidated "complex and convoluted" civil action to recover damages respecting investment losses in excess of $40,000,000. The plaintiffs sued on their own behalf and on behalf of an almost equal number of other unnamed plaintiffs. There were several defendants but they were comprised of three groups: the fund managers, the lawyer and the auditor and the accountant. The plaintiffs applied to sever the actions of the six corporate plain­tiffs and those of 18 selected individual plaintiffs so they could proceed to trial as a "test case". The remaining 134 individual plaintiffs proposed that their actions be stayed pending the final determination of the test case.

The Saskatchewan Court of Queen's Bench allowed the application and set terms and conditions.

[Editor's note: For related proceedings see: 130 Sask.R. 252; 134 Sask.R. 241; 101 W.A.C. 241; 135 Sask.R. 7; 143 Sask.R. 20; 143; Sask.R. 81; 148 Sask.R. 288; 134 W.A.C. 288; 149 Sask.R. 37; 157 Sask.R. 78; 157 Sask.R. 253; 164 Sask.R. 95; 164 Sask.R. 230; [1997] Sask.R. Uned. 117; 178 Sask.R. 100; 179 Sask.R. 221].

Practice - Topic 5253

Trials - General - Consolidation of actions - Severance of consolidated actions - Six corporate plaintiffs and 152 individual plaintiffs conducted a consoli­dated "com­plex and convoluted" civil action to recover damages respecting in­vestment losses in excess of $40,000,000 -The plain­tiffs applied to sever the actions of the six corporate plaintiffs and those of 18 selected individual plaintiffs so they could proceed to trial as a "test case" - The remaining 134 individual plaintiffs pro­posed that their actions be stayed pend­ing the final determination of the test case - The Saskatchewan Court of Queen's Bench allowed the application and set terms and conditions - The legal and factual issues and documents respecting the individual plaintiffs' claims were sub­stantially the same - There was no legal prejudice re­specting the defendants' defen­ces - There was practical benefit to the defendants by saving significant litigation costs and trial time.

Cases Noticed:

International Minerals & Chemical Corp. (Canada) Ltd. et al. v. Commonwealth Insurance Co. et al. (1987), 63 Sask.R. 298 (Q.B.), consd. [para. 14].

International Minerals & Chemical Corp. (Canada) Ltd. et al. v. Commonwealth Insurance Co. et al. (1988), 67 Sask.R. 194 (C.A.), refd to. [para. 14].

Royal Bank of Canada v. Jarvie, [1987] S.J. No. 374 (Q.B.), refd to. [para. 14].

Halstead v. Anderson et al. (1993), 115 Sask.R. 257 (Q.B.), refd to. [para. 16].

Bennett v. Bury (Lord), [1880] 42 L.T. 480 (Ch. D.), refd to. [para. 18].

Alberta v. Alberta Union of Provincial Employees (1984), 53 A.R. 277 (C.A.), refd to. [para. 18].

St. Pierre v. South American Stores Ltd., [1935] All E.R. 408 (C.A.), consd. [para. 18].

Aanestad et al. v. Saskatchewan et al. (1991), 101 Sask.R. 103 (Q.B.), refd to. [para. 19].

Bacon et al. v. Saskatchewan Crop Insur­ance Corp. et al. (1997), 154 Sask.R. 262 (Q.B.), refd to. [para. 20].

King et al. v. Walsh Micay & Co. et al. (1992), 79 Man.R.(2d) 161 (Q.B.), refd to. [para. 29].

Kuula v. Moose Mountain Ltd. (1912), 26 O.L.R. 332 (Ch.), refd to. [para. 30].

Counsel:

J.M. Lee, R.W. Leurer and P.A. Beke, for the plaintiffs;

J.R. Beckman, Q.C., and C.A. Sloan, for the defendants, Deloitte Haskins & Sells and Ronald Hicks;

W.F.J. Hood, for the defendant, Larry Machula;

G.J. Kuski, Q.C., for the defendant, Del­bert Blewett.

This application was heard by Baynton, J., of the Saskatchewan Court of Queen's Bench, Judicial Centre of Saskatoon, who delivered the following decision on May 3, 1999.